Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

India's monsoon rains forecast to be average in 2021 - weather office

04/16/2021 | 03:59am EDT
FILE PHOTO: A man rows his boat in the tributary waters of Vembanad Lake against the backdrop of pre-monsoon clouds on the outskirts of Kochi

NEW DELHI/MUMBAI (Reuters) - India is likely to receive an average amount of rain in the 2021 monsoon, the state-run weather office said on Friday, raising expectations of higher farm and economic growth in Asia's third-biggest economy, which is reeling from a surge in coronavirus cases.

Monsoon rainfall is expected to total 98% of the long-term average, M. Rajeevan, secretary at the Ministry of Earth Sciences, told a virtual news conference.

The state-run India Meteorological Department (IMD) defines average, or normal, rainfall as between 96% and 104% of a 50-year average of 88 cm (34 inches) for the entire four-month season beginning June.

In the midst of the coronavirus pandemic, agriculture has been a bright spot in India's economy, and a good monsoon would help the sector and the countryside, said Radhika Rao, economist at DBS Bank in Singapore.

The monsoon, the lifeline of the country's $2.9 trillion economy, delivers nearly 70% of rains that India needs to water farms and recharge reservoirs and aquifers.

Nearly half of India's farmland, without any irrigation cover, depends on annual June-September rains to grow crops such as rice, corn, cane, cotton and soybeans.

Farming accounts for nearly 15% of India's economy but sustains more than half of India's 1.3 billion people.

Monsoon rains lash the southern tip of Kerala state around June 1 and retreat by September.

"Most models show that La Nina conditions will convert to neutral conditions, and there is a very low chance of El Nino's development during the monsoon season," Rajeevan said.

A strong El Nino, marked by a warming of the sea surface on the Pacific Ocean, can cause severe drought in Australia, Southeast Asia and India.

A strong El Nino triggered back-to-back droughts in 2014 and 2015.

La Nina is an abnormal cooling of ocean temperatures in the eastern and central Pacific, triggering above average rains.

(Additional reporting by Swati Bhat in Mumbai; Editing by Christian Schmollinger, William Maclean)

By Rajendra Jadhav and Mayank Bhardwaj

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (C) - CBR (FLOOR)/C1 1.74% 772.75 End-of-day quote.55.63%
SOYBEAN MEAL FUTURES (ZM) - CBE (ELECTRONIC)/C1 3.46% 442.5 End-of-day quote.-2.33%
ZR (ZR) - CBE (ELECTRONIC)/C1 2.05% 14.19 End-of-day quote.12.14%
Latest news "Economy & Forex"
03:15aFRANK ELDERSON :  Interview with Het Financieele Dagblad
02:42aAttack by an unmanned aerial surveillance system targets iraq's ain al-asad air base that hosts u.s. forces , no injuries - u.s. coalition
01:42aCEGOS  : For the 7th time in a row, the Cegos Group is in the Top 20 list of Training Industry in the Training Outsourcing category
12:51aColonial Pipeline halts all pipeline operations after cybersecurity attack
12:42aULTRA MODERN POOL AND PATIO  : Pineapple Boat Shrimp Stir Fry
12:27aColonial Pipeline halts all pipeline operations after cybersecurity attack
12:15aWhat Happens to Stocks and Cryptocurrencies When -2-
12:15aWhat Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?
12:08aIndia posts record daily rise in COVID-19 deaths as case numbers surge
12:03aFROM MICRO TO MACRO : Using Micro Data to Understand Macroeconomics and Public Policy
Latest news "Economy & Forex"